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Euskadiko Arrekontu Nazional
The Euskadiko Arrekontu Nazional (Euskadi National Budget) is a document that demonstrates the Eusko Jaurlaritza's planned financial performance, and the framework it intends to conduct its operations in the following financial year. National budget is usullay released in october, before the starting of the year. In line with most European "welfare" states, the national budget of Euskadi provide for a yearly expenditure between 40-45% of GDP while revenues from taxes account for about 40% of the GDP. Budget process The Eusko Jaurlaritza presents its central government budget on Budget Day, the third Tuesday in October, but preparations commence in December of the previous year when the Ogasun-Sailburu (Minister of Finance) sends budget instructions to the ministries. The ministers then inform the Ogasun-Sailburu (Minister of Finance) of their plans for the coming period by means of policy letters. *In the spring, the Ogasun-Sailburu (Minister of Finance) sends a framework letter, asking what setbacks and windfalls there have been, what additional funding is being requested, whether spending in one or more of the three sectors (central government, social security and care) must be reduced or whether spending can be increased (for example to cut taxes or improve public finances). *In the aggregates letter in April/May, the Ogasun-Sailburu (Minister of Finance) informs the ministries how much can be spent in the coming year. *In June, every ministry prepares a initial draft budget, which is finalised in the summer months. The Ogasun-Sailburua (Ministry of Finance) decides whether the initial draft budgets are consistent with the coalition agreement, the budget notice and the aggregates letter. Budget Memorandum The Budget Memorandum is prepared at the same time as the draft budgets. It summarises the main policy frameworks set out in the individual budgets and discusses the financial and economic position of Euskadi. The ministers work with provisional figures until the summer. In August, the latest economic data published are incorporated into the final decisions on the central government budget. Central government budget In September, all the ministries present their final budgets to the Ogasun-Sailburua (Ministry of Finance). Together, they form the central government budget. The central government budget and the Budget Memorandum are then printed so that they will be ready on time. Any amendments necessitated by the Council of State’s advice and the latest figures are made in the printer’s proofs. The budget is then ready to be presented on Budget Day. Budget Day On behalf of the government, the Ogasun-Sailburu (Minister of Finance) presents the central government budget and the Budget Memorandum to the Eusko Legebiltzarra on Budget Day, the third Tuesday in October. When he presents the documents, the Minister of Finance gives a speech on the state of the Euskadi economy. Budget debate and adoption Shortly after Budget Day, Eusko Legebiltzarra begins to debate the central government budget and the Budget Memorandum. It first debates the main political issues and then the financial and economic policies. The budgets of the individual ministries are then debated too. Once Eusko Legebiltzarra has approved the departemental budgets, the ministries carry out the policies. Both the ministries and the Eusko Legebiltzarra monitor the implementation of the budget. The ministries inform the Eusko Legebiltzarra of the budget’s implementation by means of memorandums. Euskadi annual budgets *2012 Euskadiko Arrekontu Nazional, (2012 Euskadi National Budget) Category:EuskadiCategory:EconomyCategory:Economy of Euskadi